Lmcg Investments LLC Sells 2,659 Shares of Amgen Inc. $AMGN

Key Points

• Lmcg Investments LLC reduced its stake in Amgen Inc. by 7.5%, selling 2,659 shares to hold a total of 33,019 shares valued at approximately $9.2 million.
• Amgen's latest earnings report showed an EPS of $6.02, beating estimates by $0.74, with revenue of $9.18 billion.
• The company announced a quarterly dividend of $2.38 per share, representing an annualized yield of 3.3% with a payout ratio of approximately 77.84%.

Lmcg Investments LLC cut its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 7.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,019 shares of the medical research company's stock after selling 2,659 shares during the period. Lmcg Investments LLC's holdings in Amgen were worth $9,219,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AMGN. Brighton Jones LLC boosted its holdings in Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after purchasing an additional 5,226 shares during the period. GAMMA Investing LLC raised its stake in shares of Amgen by 40.2% in the 1st quarter. GAMMA Investing LLC now owns 11,753 shares of the medical research company's stock valued at $3,662,000 after buying an additional 3,369 shares in the last quarter. Simplicity Wealth LLC acquired a new position in shares of Amgen in the 1st quarter valued at $390,000. Simon Quick Advisors LLC raised its stake in shares of Amgen by 34.3% in the 1st quarter. Simon Quick Advisors LLC now owns 4,022 shares of the medical research company's stock valued at $1,253,000 after buying an additional 1,027 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its stake in shares of Amgen by 6.1% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 83,647 shares of the medical research company's stock valued at $26,060,000 after buying an additional 4,832 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AMGN shares. Raymond James Financial started coverage on shares of Amgen in a research note on Wednesday, September 3rd. They issued a "market perform" rating for the company. Bank of America increased their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a research note on Friday, September 26th. UBS Group dropped their price objective on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Morgan Stanley increased their price objective on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $309.42.

Amgen Trading Down 1.8%

Shares of NASDAQ AMGN opened at $290.13 on Friday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88. The company has a market cap of $156.19 billion, a PE ratio of 23.72, a P/E/G ratio of 2.56 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The company has a 50-day moving average of $286.77 and a two-hundred day moving average of $287.68.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating the consensus estimate of $5.28 by $0.74. The business had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. Amgen's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Friday, August 22nd. Amgen's dividend payout ratio (DPR) is presently 77.84%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.76% of the company's stock.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.

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